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Nigel McKenna Bankrupted

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  • Nigel McKenna Bankrupted

    Property developer McKenna bankrupted

    By Anne Gibson 2:45 PM Wednesday Apr 20, 2011

    Nigel McKenna File photo



    Colourful Auckland developer Nigel McKenna is finally bankrupted.
    Documents filed with Insolvency Services showed he filed a debtor's application to have himself declared broke.
    That ends two years of chasing by The Fletcher Construction Co, owed $800,000 as the final payment on a $100 million Wellington hotel.
    McKenna was fighting Fletcher's bankruptcy application on the grounds it was not fair or equitable.
    However in a surprise move McKenna last week ditched a creditors' compromise scheme, which would have returned just over $1 million to creditors claiming more than $100 million.
    McKenna's final move also averts the need for a further hearing in the High Court at Auckland, due today at 2pm.
    McKenna has, over more than a decade, built award-winning apartment complex the Beaumont Quarter, residential project Lighter Quay with its Westin Hotel, the $1 billion Kawarau Falls multi-hotel property near Queenstown, Wellington's Rydges Hotel and many other projects.
    By Anne Gibson | Email Anne

    Source


    Well things are slowly catching up with these guys. I have no personal opinion, but I know there will be many people who will be happy to see this particular individual bankrupted.
    Squadly dinky do!
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